To maximize the obtained polysaccharides from Phellinus linteus mycelia, effects of extraction and purification conditions including dialysis time (8, 16, 24, 48 h) on an amount of the polysaccharides were investigated. As extraction temperature (50~95 ℃), ratio of solvent volume to the dry weight of mycelia (10, 15, 20, 25 ml/g), extraction time(2, 4, 6, 8 h), final concentration of ethanol (70, 75, 80, 85%), and aging time (1, 4, 8, 16 h) increased, an amount of the polysaccharides was increased. An increase in precipitation time up to 24 h increased an amount of the polysaccharides but a further increase in precipitation time after 24 h did not changed largely an amount of the polysaccharides. Three precipitation solvents (ethanol, methanol, acetone) were tested. An amount of the polysaccharides was increased in order to acetone, ethanol, and methanol. On the optimal extraction condition, extraction temperature, ratio of water volume to the dry weight of mycelia, and extraction time were 95 ℃, 25 ml/g, and 8 h, respectively.